UK: Slight Slowdown in Retail Sales in July

Data for the retail sector showed that British retailers slowed slightly in July after sales growth hit its highest level in nearly three years in June, the first full month after the reopening of non-essential stores that were closed due to the Coronavirus.

The CBI sales volume index fell compared to a year ago to +23 from +25 in June, which was the highest since August 2018.

Most economists polled by Reuters expected a drop to +21.

The union said order growth was the fastest since December 2010, and the pace of sales was expected to pick up again in August.